Shops on Meridian Retail
201 S State Rd 135, Greenwood, IN 46142
Call to check price and availability
Fully leased retail property with national tenants in Greenwood, Indiana.
Type:Retail
Property size:
4,051 SFPrice / SF:
$545/SF- Added:
- May 22, 2026
- Days on Market:
- 9
- Last Refresh:
- May 27 at 8:20 am
Property Features for 201 S State Rd 135
General Information
- Standard status
- Active
- Size
- 4,051 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2016
Listing agent David Chasin License #CA 01513027
Listing office Pegasus Investments (310) 969-1135
Listing date May 22, 2026
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Pegasus Investments
HighLights
- 100% leased to national tenants (Mathnasium and Jamba/Auntie Anne’s) with a ~10 year weighted average lease term remaining, providing stable, long‑term income.
- Rare 3.5% annual rental increases in both leases, delivering compounding, inflation‑resistant cash flow and an impressive 8.46% cap rate by Year 10.
- Located at a signalized hard‑corner position on State Road 135 and West Main Street, with high traffic counts exceeding 55,000 vehicles per day.
- Directly across from a Meijer grocery store, generating approximately 1.8 million annual visitors and consistent traffic.
- Strong demographics with average household incomes near $104,000 within a one‑mile radius and significant population growth in Greenwood.
- Located in a high‑growth area with over $110 million in new development planned within a 2.5‑mile radius, including the 90‑acre Center Grove Park mixed‑use PUD.
Overview
Shops on Meridian is a fully leased multi-tenant retail property located in Greenwood, Indiana. The property is positioned at a signalized hard-corner location at the intersection of State Road 135 and West Main Street, with traffic counts exceeding 55,000 vehicles per day. It sits directly across the intersection from a Meijer grocery store. The property is leased to Mathnasium and Jamba/Auntie Anne’s, creating a family-oriented tenant roster with an approximately 10-year weighted average lease term remaining. Both leases feature 3.5% annual rental increases. Mathnasium is a nationally recognized K–12 supplemental education brand with over 1,100 locations. The Center Grove Community School District, ranked #1 in Johnson County and #15 in Indiana, drives demand for tutoring and academic-related services. The Jamba/Auntie Anne’s combination store broadens consumer appeal and acts as a synergistic co-tenant for students and parents. Average household incomes within a one-mile radius approach $104,000. Greenwood is one of Indiana’s fastest-growing cities, having expanded 80% since 2000. Employment in Greenwood grew approximately 7% from 2023 to 2024, adding over 2,200 jobs. Within a 2.5-mile radius, more than $110 million in newly delivered and approved development is actively reshaping the trade area, anchored by the 90-acre Center Grove Park mixed-use PUD approved in December 2024, which will deliver 250 apartment units and up to 150,000 square feet of commercial space directly along SR 135. The property contains 4,051 square feet.
Location Intelligence
Current Use by Public Records
American Mattress
Furniture & Home Goods
Location Insight
- Map
- Local Demand
- City
- Greenwood
- County
- Johnson
- State
- Indiana
- Longitude
- -86.158422
- Latitude
- 39.62089
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FAQs
What type of property is this?
Strip mall - Fully leased retail property with national tenants in Greenwood, Indiana.
Where is this strip mall located?
The property is located at 201 S State Rd 135 Greenwood, IN.
What is the asking price?
The asking price for this property is $2,210,000.
What are key features of this property?
This property features: 100% leased to national tenants (Mathnasium and Jamba/Auntie Anne’s) with a ~10 year weighted average lease term remaining, providing stable, long‑term income.; Rare 3.5% annual rental increases in both leases, delivering compounding, inflation‑resistant cash flow and an impressive 8.46% cap rate by Year 10.; Located at a signalized hard‑corner position on State Road 135 and West Main Street, with high traffic counts exceeding 55,000 vehicles per day.
